TAILIEUCHUNG - Basic Marketing: A Global−Managerial Approach Chapter 20

Chapter 20. Managing Marketing’s Link with Other Functional Areas. When You Finish This Chapter, You Should: 1. Understand why turning a marketing plan into a profitable business requires money, information, people, and a way to get or produce goods and services. | I Perreault-McCarthy Basic I Marketing A Global-Managerial Approach 14 e 20. Managing Marketing s I Text Link with Other Functional Areas The McGraw-Hill Companies 2002 When You Finish This Chapter You Should 1. Understand why turning a marketing plan into a profitable business requires money information people and a way to get or produce goods and services. Chapter Twenty 2. Understand the ways that marketing strategy decisions may need to be adjusted in light of available financing. 3. Understand how a firm can implement and expand a marketing plan using internally generated cash flow. 4. Understand how different aspects of production capacity and flexibility should be coordinated with marketing strategy planning. 5. Understand the ways that the location and cost of production affect marketing strategy planning. 6. Know how marketing managers and accountants can work together to improve analysis of the costs and profitability of specific products and customers. 7. Know some of the human resource issues that a marketer should consider when planning a strategy and implementing a plan. 8. Understand the important new terms shown in red . Managing Marketing s Link with Other Functional Areas Illinois Tool Works Inc. produces and sells thousands of products ranging from nuts bolts screws nails and plastic fasteners to sophisticated equipment like its new robot that automates the manufacture of picture frames by taking molding directly from a high-speed saw and then automatically joining the pieces into a complete picture frame with virtually no labor required. ITW s fasteners are hidden inside or attached to appliances cars computers and hundreds of other products you buy. One key to ITW s success is that it is fast and creative in identifying target markets with specific needs developing products actually whole marketing mixes and then implementing plans to meet the target market s needs. Another key to ITW s success is that managers from different .

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